Newly Built
For Sale
$1,350,000
5428 NW 3rd Ave, Miami, FL 33127
Residential Income, Miami, FL
Property Size2,830 SF
Price / SF$477.03
Days on Market94
Property Features for 5428 NW 3rd Ave
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Property condition
Under Construction
Zoning description
5700
Bedrooms
4
Full bathrooms
2
Rooms
Bedroom 3, Bedroom 1, Bathroom 2, Bedroom 4, Bedroom 2, Bathroom 1
Parking
2
Subdivision
BUENA VISTA GARDENS
Lot features
< 1/4 Acre
Standard status
Active
APN
01-31-13-042-2150
Size
2,830 SF
Taxes and HOA fees
Tax Year
2025
Tax Description
BUENA VISTA GARDENS PB 5-45 LOT 9 BLK 12 LOT SIZE 50.000 X 125 OR 11778-523 0483 1
Tax Annual Amount
13198
Legal Description
BUENA VISTA GARDENS PB 5-45 LOT 9 BLK 12 LOT SIZE 50.000 X 125 OR 11778-523 0483 1
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Electric (Heating), Central
Cooling system
Central Air, Electric
Water source
Public
Building Details
Year built
2024
Floors in Building
1
Flooring type
Tile - Ceramic
Building materials
Block
Roof type
Barrel
Listing Agency:
Phoenix Realtors LLC
(305) 615-1163
Listed By:
Marcela Ortiz · License #3426524
(754) 581-0137
Added: Jun 30
Changed: Sep 14
Last Checked: Oct 1 at 2:06PM
MLS# A11997633
Copyright © 2026 Miami REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This duplex contains 2,830 square feet with six bedrooms and four full bathrooms across two residential units. Built in 2024 with block construction, the property is currently under construction and includes ceramic tile flooring, barrel roofing, central electric heating, and central air conditioning. Public water and public sewer serve the property, with cable availability also reported.
The property is located at 5428 NW 3rd Ave in Miami’s Buena Vista area, 12 blocks from the Design District. Wynwood and Midtown are within a 10-minute drive, while Miami International Airport and Miami Beach are each approximately 15 minutes away. Both units are leased through November 2025.
The property is located at 5428 NW 3rd Ave in Miami’s Buena Vista area, 12 blocks from the Design District. Wynwood and Midtown are within a 10-minute drive, while Miami International Airport and Miami Beach are each approximately 15 minutes away. Both units are leased through November 2025.
Key Highlights
- Duplex configuration with 2,830 square feet
- Six bedrooms and four full bathrooms
- 2024 construction with block materials
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$56,757
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.20%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,135,140
$1.1M
Cap Rate 7%
$810,814
$810.8K
Cap Rate 9%
$630,633
$630.6K
Market Conditions
NOI Build-Up for 2,830 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$86.6K $30.60/SF
− Vacancy
−$5.5K −$1.95/SF
EGI
$81.1K $28.65/SF
− OpEx
−$24.3K −$8.60/SF
NOI
$56.8K $20.06/SF
Area
Miami, FL
Vacancy
6.37%
Lease Rate
$30.60 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,135,140
Cap Rate 7%
$810,814
Cap Rate 9%
$630,633
Alternative Uses
Best Use
Multifamily LT 5
$810.8K
$709.5K – $946.0K
NOI $56,757 @ 7.0% cap · market cap 4.20%
Second Best
Apartment 5plus
$746.9K
$653.5K – $871.3K
NOI $52,280 @ 7.0% cap · market cap 3.87%
Theoretical Best
Specialty Retail
$1.91M
$1.67M – $2.23M
NOI $133,719 @ 7.0% cap · market cap 9.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,646
Businesses Nearby
Explore this area
Business Placement
Demographics for 33127, FL
27,692
Population
11,245
Households
2.5
Avg Household Size
37
Median Age
13%
College-Educated
69%
High-School Grad
3.3 sq mi
ZIP Area
8,392
Density / Sq Mi
$41,125
Median Household Income
$30,240
Median Earnings
$1,394
Median Rent
$398,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Two-unit residential property with current tenancy, contemporary systems, and ceramic tile finishes near Miami’s Design District.
Where is this duplex located?
The property is located at 5428 NW 3rd Ave Miami, FL.
What is the asking price?
The asking price for this property is $1,350,000.
What are key features of this property?
This property features: Duplex configuration with 2,830 square feet; Six bedrooms and four full bathrooms; 2024 construction with block materials
